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Not stringing investors along... you are taking things out of context, leaving out vital information, and making outlandish assumptions. That is your own doing.
Yes they have - check quarterly's
Example I just posted:
NEW YORK, NY -- (MARKET WIRE) -- 08/04/09 -- The Evermedia Group (PINKSHEETS: EVRM) is pleased to announce that System Technology Solutions, Inc. (STS) is situated to accept its first option year award under an existing contract with Department of the Army, Joint Contracting Command Iraq (JCCIA).
In total, The Detainee Property Warehouse and Inventory Technicians Contract will furnish $2,609,0420.93 in services. The contract consists of one base year carrying $871,238.36 and two option years.
Currently, 7 STS employees are involved, finishing performance under the base year award and preparing to extend services once JCCIA delivers the first option year. Given the exclusive contract, the first option year automatically assigns to STS should Department of the Army maintain its planned functions. If issued, the first option year award will soon surface.
Most of our contracts are not from awards, but in support of an awardee ... therefor it's not a known or fixed amount and comes in as revenues - and not documented as an award.
How are these 2 seperate issues?
Enhanced communication and a newsletter full-fill the same purpose - they give updates to shareholders...
The company has tried many different methods for releasing information- and really have done about everything they can.. they release PR's, they have E-mail and Phone contact, they have a website with news, they have social media, OTC markets keeps the info on hand... what more do you want? more frequency I could see... but saying there is none is absurd.
Even more absurd is the fact you are still looking for it when they have since clearly put out information that from 9/10/2013 on they will be handling news for shareholders in a new way.
The aim of this monthly newsletter is to inform with our shareholders of routine events, operations and/or activities that have occurred during the previous month as well as to share news worthy items that lie ahead. It is also meant to act as an informal memorandum to share ideas, thoughts, and projects that the management of the Evermedia Group may be contemplating or have launched. The newsletter is not intended to replace press releases where
we announce major events and the contents of each newsletter may contain several forward thinking statements and opinions.
As of September 10, 2013, the Company will manage investor relations calls
internally. Management made this decision so that it could centralize all
communications media and also to create new methods of sharing news with
shareholders. The Company will also provide the capability to respond to text messages in addition to phone calls, emails and social media queries.
I don't see that anywhere...
I says It possibly could.. If base contracts and Option years would be picked up on multiple contracts (that were paid over the course of 2-3yrs)
The company had well over $5M in Rev's including the 2-3yrs following 2010.. because contracts were paid out in trenches not lump sums
and that was actual Revs.. option yrs weren't picked up from what I could tell - so to have a possible extra $5M isn't out of the question really...
It's called forward loooking guidance not facts.
Let me make a separate post for this one Since you are so bent on it
and don't understand or don't want to do the math yourself.
Where's the 80-100 million they said STS was worth five years ago?
"Since last year, STS's revenues have experienced significant growth. They have won key contracts and task orders as well as joining several teams with Fortune 1000 companies. I think by the end of 2010, STS can possibly exceed $10,000,000 in revenues."
You choose to ignore the words "can possibly", and further omit the important parts that describe the valuation - let me fill it in for you:
"He further stated that "the total cost of this acquisition is about $15 million in stock and cash. What we are buying is an asset that is worth about $80-$100 million, based on STS' current and pro forma revenues, earnings growth rates, relative P/E and its ability to generate government contracts in the next three years. This is an incredible opportunity for us to acquire an asset for a great price. Furthermore, almost 75% of this acquisition was done with newly created Class B shares which do not carry any immediate market liquidity."
Two words: Market Capitalization
The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying a company's shares outstanding by the current market price of one share. The investment community uses this figure to determine a company's size, as opposed to sales or total asset figures.
Company size is a basic determinant of asset allocation and risk-return parameters for stocks and stock mutual funds. The term should not be confused with a company's "capitalization," which is a financial statement term that refers to the sum of a company's shareholders' equity plus long-term debt.
In Sept. 2009 (when the PR was released)
Outstanding Shares = 781,540,115 Share Price = Aprox. .013
781,540,115 x .013 = $10,160,021 Market Cap
"BOSTON, Aug. 22, 2012 /PRNewswire/ -- Evermedia Group, Inc. (OTC: EVRM) The Evermedia Group, Inc. is pleased to announce second quarter 2012 revenue of $703,620, an increase of more than 375% over the same period in 2011 and nearly 70% of all revenue generated in fiscal year 2011 as represented by company financials posted August 21, 2012.
(375% increase over one year)
This dramatic increase in revenue is largely attributable to revenue generated by an increase in site completions under the ATG contract, an award announced on May 22, 2012, and an increase in billable full time employees providing biometric and business analysis support under the PACTS contract vehicle."
$10,160,021 x (375% x 3) = $114,300,236.25
Looks pretty spot on if you ask me.
Your posts are anything but factual. I've answered you questions many times over.
How is the monthy letter they said they were going to put out?
This is the one legitimate gripe you have - It would be nice to see more from an investor relations standpoint, but regardless - if they make increasing revenues with no new debt (when fully functioning) that means more than PR's.
Where's the money from the 2006 Seaport contract?
There's nothing posted about a SeaPort-e contract...
The photos posted in the i-box are pictures of the solicitation offer and award sheet. The parts filled in are where the company puts in their offers and bids for certain contracts (after being solicited)... the bottom half of that sheet (which is not posted) is where the government fills in for the awards... obviously the company put in for work and never got it. But no where does it say we did.
So please put your 2006 SeaPort-e debate to rest... it's pointless to bring it up as nothing happened and nobody is saying it did.
We simply were an accepted sub-contractor and never got any orders from it. End of story.
How about the audit?
Wait til after the court case - funds are being used to keep company afloat for now - not enough funds for extra legal considerations. Granted they've been saying this for a while, and seem to always file quarterly's after asking for an extension. Wait til things normalize is all I can say for now - then we'll resume the debate.
How about that corporate enhanced communication they said was to be done in 2010?
This is essentially the same question as your first and thus will receive the same answer... This is the one legitimate gripe you have - It would be nice to see more from an investor relations standpoint, but regardless - if they make increasing revenues with no new debt (when fully functioning) that means more than PR's.
Where's the 80-100 million they said STS was worth five years ago?
"Since last year, STS's revenues have experienced significant growth. They have won key contracts and task orders as well as joining several teams with Fortune 1000 companies. I think by the end of 2010, STS can possibly exceed $10,000,000 in revenues."
You choose to ignore the words "can possibly", and further omit the important parts that describe the valuation - let me fill it in for you:
"He further stated that "the total cost of this acquisition is about $15 million in stock and cash. What we are buying is an asset that is worth about $80-$100 million, based on STS' current and pro forma revenues, earnings growth rates, relative P/E and its ability to generate government contracts in the next three years. This is an incredible opportunity for us to acquire an asset for a great price. Furthermore, almost 75% of this acquisition was done with newly created Class B shares which do not carry any immediate market liquidity."
Two words: Market Capitalization
The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying a company's shares outstanding by the current market price of one share. The investment community uses this figure to determine a company's size, as opposed to sales or total asset figures.
Company size is a basic determinant of asset allocation and risk-return parameters for stocks and stock mutual funds. The term should not be confused with a company's "capitalization," which is a financial statement term that refers to the sum of a company's shareholders' equity plus long-term debt.
In Sept. 2009 (when the PR was released)
Outstanding Shares = 781,540,115 Share Price = Aprox. .013
781,540,115 x .013 = $10,160,021 Market Cap
"BOSTON, Aug. 22, 2012 /PRNewswire/ -- Evermedia Group, Inc. (OTC: EVRM) The Evermedia Group, Inc. is pleased to announce second quarter 2012 revenue of $703,620, an increase of more than 375% over the same period in 2011 and nearly 70% of all revenue generated in fiscal year 2011 as represented by company financials posted August 21, 2012.
(375% increase over one year)
This dramatic increase in revenue is largely attributable to revenue generated by an increase in site completions under the ATG contract, an award announced on May 22, 2012, and an increase in billable full time employees providing biometric and business analysis support under the PACTS contract vehicle."
$10,160,021 x (375% x 3) = $114,300,236.25
Looks pretty spot on if you ask me.
Where's the 10 million in revenues they said in 2009 STS was going to do by 2010?
Source Please? I'm guessing it had to do with one of the base contracts plus option years... usually over 2 or 3 year period... You add up the quarterly revenues between those years and get back to me.
How has following their 2011 "Korean update" on twitter worked out,any tweets regarding such since?
Good question - I'd like to know.. goes back to first and 3rd question's answer.
Any public announcements regarding task orders?
We have some we are working on as a long term deal as far as I know... but nothing major I don't think.
Any updates period!?
A few... look under news and filings at OTC markets
As far as I can tell the option year was never picked up on the Army contract - which is why you were not seeing anything from those years (after the initial 2 year deal we received). Read more carefully before disseminating false information. The company has not done that at all... I just countered each and every one of you claims, and its you who does not have facts straight and spreading lies.
Most OTC pinks don't do audits - so the fact that this company was attempting to do so shows more than the majority of this level investment. If you want audits go play with reputable stocks. Again...To say that there is no audit means they were never paid is stupid - there is proof that I just showed you from the contracts from other sources showing as much. The company puts out quarterly's (with revenues) that go through legal documentation - if you wholly believe they are falsified go to the SEC - until then stop posting that non-sense on here please.
not one cent? We may not have gotten an extension, but we were awarded the base contract.
If we never got one cent... where have the revenues been coming from?
EVRM Sign Contract with Department of the Army, Joint Contracting Command Iraq (JCCIA).
EVRM: The Evermedia Group Supports System Technology Solutions Entering First Option Year of Baghdad Detainee Property Warehouse and Inventory Technicians Contract Aug 4, 2009 8:00:00 AM
NEW YORK, NY -- (MARKET WIRE) -- 08/04/09 -- The Evermedia Group (PINKSHEETS: EVRM) is pleased to announce that System Technology Solutions, Inc. (STS) is situated to accept its first option year award under an existing contract with Department of the Army, Joint Contracting Command Iraq (JCCIA).
In total, The Detainee Property Warehouse and Inventory Technicians Contract will furnish $2,609,0420.93 in services. The contract consists of one base year carrying $871,238.36 and two option years.
Currently, 7 STS employees are involved, finishing performance under the base year award and preparing to extend services once JCCIA delivers the first option year. Given the exclusive contract, the first option year automatically assigns to STS should Department of the Army maintain its planned functions. If issued, the first option year award will soon surface.
The Detainee Property Warehouse (DPW) is located at Camp Cropper, Remembrance II, Baghdad where it stores the personal property of approximately 60,000 detainees. Comprised of a supervisor and 6 technicians, STS personnel are responsible for all content accountability, storage, and inventory. Under the contract, STS personnel must also determine the status of the detainees before attending to their property.
Jonathan Sym, CEO of the Evermedia Group, mentioned, "Between ****'s [Richard Weitzel] persistent success in securing opportunities and STS' talented personnel, STS deserves its reputation and strong position in government contracting space. By STS maintaining contracts like the DPW, we can stay visible and ready as more prospects develop."
STS CEO, Richard Weitzel commented on the upcoming option saying, "Depending on whether the Army and JCCIA will initiate the first option year, the contract will continue through September 9, 2010. The contract has supplied good work and revenue benefitting us and our team. We are hopeful DPW will roll into the first option year."
How do you claim there are no revenue's coming from these contracts?
The company has revenue coming in.
In this case we were a teaming member - we did not directly get an award - that's not to say we didn't get paid.
The department of homeland security has STS listed under Serrano IT Services.
I see no reason why any of our revenue's through this time period didn't come from this contract.
Serrano's original contract was effective 8/6/09 so - there was money awarded from then until at least 9/30/11
Serrano IT Services award for FY11: 09/30/11 $5,659,495.92
http://www.dhs.gov/xlibrary/assets/opnbiz/opo_pacts_task_order_awards_fy11.pdf
Not sure how much of that went to STS (50% of the cost of personnel has to go to SBDVOB)-(STS)
http://www.serranoits.com/PDF/PACTS_Conforming_Contract.pdf
This was under Serrano's site:
System Technology Solutions, Inc (STS)
Fiber Optic and Category 5e/6 Infrastructure Cabling
Inside and Outside Cable Plant
Perimeter Security Systems
Internal Surveillance Systems
Personnel and Vehicle Access Control Systems
Industrial Security and Emergency Planning
http://www.serranoits.com/contracts.html
Under the contract, we provide Department of Homeland Security (DHS) fiber optic security,
surveillance systems, personnel/vehicle access control and emergency planning services. Under
PACTS DOS-GSS, Evermedia Biometrics Corporation will provide biometric security consulting
services directly to DHS over the course of one base year and 4 option years. Serrano IT Services
is the Prime Contractor on PACTS DOS-GSS.
No, I don't believe it per say.. BUT I don't have any proof its not true either, thus I will take it for what its worth - it's not worth my time to file a claim with the SEC ... if you feel so strongly why don't you?? It's a legal document - if it's disinformation prove it. Good luck.
I could agree to that.. It is kind of pointless having a form split into 3 different images - without an agreement to finish it... But on the other hand.. it isn't hurting anything either - provided you understand it.
As part of our demand letter in the current lawsuit, we have requested the return of all shares owned by former
Director E. Richard Weitzel. We have not received a response. It is our aim to retrieve all Evermedia Group shares
in his possession.
This in its self is every reason I need to invest
Personally I have not bought into EVRM for any of the reasons you repeatedly list so please stop posting copies of posts dating prior to when this was EVRM and are going on over 8 years outdated... If I want to view your posts I can scroll back and see them about every 5th through 10th post.
To: Fellow Shareholders
From: Jonathan Sym
Date: August 18, 2013
RE: Status of Affiliate Share Ownership
My Fellow Shareholders,
I want to share some stock ownership information, as it relates to the Officers and Board Members of The
Evermedia Group, Inc. Below is a transcript of my share ownership in our company; which I requested from our
transfer agent on August 12, 2013. Since assuming my duties as CEO in 2008, I have not sold any shares. The only
transfer of shares I executed was last year, when I made a personal stock donation to the Shelter Legal Services
Foundation (a non-profit organization that provides free legal assistance to homeless veterans). My shares are
currently in certificate form and bear a restricted legend.
Furthermore, I have confirmed with our Board of Directors that they have not sold any shares during the same time
period. Shares owned by Messrs. John Hotek and Thomas Clarke, our Directors, are also in certificate form and are
restricted.
As part of our demand letter in the current lawsuit, we have requested the return of all shares owned by former
Director E. Richard Weitzel. We have not received a response. It is our aim to retrieve all Evermedia Group shares
in his possession
There's nothing posted about a SeaPort-e contract...
The photos posted in the i-box are pictures of the solicitation offer and award sheet. The parts filled in are where the company puts in their offers and bids for certain contracts... the bottom half of that sheet are not posted and that is where the government fills in for the awards... obviously the company put in for work and never got it. But no where does it say we did.
So please put your 2006 SeaPort-e debate to rest... it's pointless to bring it up as nothing happened and nobody is saying it did.
We simply were an accepted sub-contractor and never got any orders from it. End of story.
pretty thin to .0008
someone probably bailing from the crashing market...
it's only been about 3 years now since the market has had a correction... it's going to get ugly now that reality has set in... funny money only goes so far
unless its averaging down... wish I could too
There's nothing posted about a SeaPort-e contract...
The photos posted in the i-box are pictures of the solicitation offer and award sheet. The parts filled in are where the company puts in their offers and bids for certain contracts... the bottom half of that sheet are not posted and that is where the government fills in for the awards... obviously the company put in for work and never got it. But no where does it say we did.
So please put your 2006 SeaPort-e debate to rest... it's pointless to bring it up as nothing happened and nobody is saying it did.
We simply were an accepted sub-contractor and never got any orders from it. End of story.
...I just did!
The deal is spelled out clear as day straight from the press release...
It clearly states Richard's SEVM was purchased in whole by SYM's EVRM by a stock deal where Richard's SEVM shares were converted to EVRM shares... those shares are available to see in the financial reports.
It is also made abundantly clear what Richard's new role within EVRM's company is to be. He runs the STS side... a "division" (subsidiary) of EVRM.
The deal was financed primarily with common stock, requiring Evermedia to increase its authorized shares to finance the purchase. The companies will consolidate certain aspects of their businesses such as contract management, administrative functions and financial reporting while operations and division management will remain independent. Richard Weitzel will be named the new Chief Executive Officer of STS Evermedia Corporation, the parent of STS, and will also be a director at the Evermedia Group. The "change of command" will take place on or about 1 OCT 2009.
Regarding the acquisition, CEO of Evermedia Jonathan Sym stated: "This increased ownership of STS is a milestone event for us. This is the most significant event in our company's young history as it will allow us to participate in the revenues of a terrific company.
Consolidate: to join or combine together into one thing.
Division Manager: A division manager oversees a section of a company or other organization. He or she sets the direction for the division and ultimately is responsible for the division's success. Planning, organizing, allocating resources and directing the day-to-day operations of the division are the general duties of this manager. Specific responsibilities can vary, depending on the size of the company or other entity and how it is organized. A person in this position might oversee an entire physical company site, such as a manufacturing plant, or might be the top person directing a large department that has personnel at one or more company locations, such as a sales division.
The responsibilities of a division manager include developing the goals and objectives for his or her organization. The manager establishes the policies and procedures to be followed by employees. On a regular basis, the person in this role monitors operations to ensure that division goals and objectives are being met and that policies and procedures are being followed. He or she is responsible for fixing problems that can stand in the way of achieving division goals, whether by implementing process improvements or by taking corrective actions.
Division managers are responsible for planning and organizing the duties of employees within the division. They often have lower-level managers reporting to them, along with non-management professionals and hourly workers. They review and evaluate employee performance and plan and monitor worker training programs. They are involved in hiring and firing workers as well as promoting and disciplining them.
Division managers also collaborate with their peers, the heads of other company divisions, to help ensure smooth overall operations within the company. These managers also must consider their own work performances. They are responsible for explaining their decisions and the performances of their divisions to their bosses, usually general managers, vice presidents or other higher-ups within the company.
The financial well-being of the division is the responsibility of the division manager. He or she sets and monitors divisional budgets, tracks expenses and approves spending. If there are sub-divisions within the larger division, the manager allocates budgets to the management of those divisions and monitors adherence to those budgets. If additional money is needed in the division for effective operations, the division manager is responsible for justifying the increased budget request to higher-ups.
RW isn't the reason for the revenues... gaah...
RW was the ceo of STS which was more or less contracted out by EVRM to do the work. Look up the main offices for EVRM in Boston - it's for corporate offices for like 2 or 3 people... of course the actual business will flow through the subsidiary that actually has the employees that perform services. Everyone is replaceable... RW means little to the company.. he's got "contacts" sure... but so does everyone else in this world.
RW taking over the company doesn't make any sense - he sold out his venture to Sym. He worked under Sym - but with almost equal share of the company. That was the deal. RW didn't make the revenues - He didn't just take the money.. he allocated 97% of the company's funds as bonus money... what kind of person takes 97% of funds as a bonus without explaining it. Stupid. Not to mention He has a very long list of court cases against him... some of them having to do with stealing money from retirement funds.. some tax problems.. he obviously doesn't have a clue.. and seems to me like he wasn't happy with his decision to sell out to Sym.. something went wrong there and RW was on the losing side of it every way I look at it.
Revenues were growing prior to the court case...
Considering there was no debt - that was a pretty good prospect.
I don't know what school you went to but their meaning of fact sure isn't the same as the rest of the world...
Once the case is over as i have stated for many months now,STS will be gone and EVRM will be left with the task of going at it alone with nothing but the lies that are in the (i-box).
Opinion
I realise the following was right before Sym'ssssss sold millions in August of that year,but someone should ask him what happened to this:
This is not fact as you have no proof of this claim, and saying it is fact because there is no proof that it didn't happen is a dumb assertion.
"Since last year, STS's revenues have experienced significant growth. They have won key contracts and task orders as well as joining several teams with Fortune 1000 companies. I think by the end of 2010, STS can possibly exceed $10,000,000 in revenues."
You choose to ignore the words "can possibly", and further omit the important parts that describe the valuation - let me fill it in for you:
"He further stated that "the total cost of this acquisition is about $15 million in stock and cash. What we are buying is an asset that is worth about $80-$100 million, based on STS' current and pro forma revenues, earnings growth rates, relative P/E and its ability to generate government contracts in the next three years. This is an incredible opportunity for us to acquire an asset for a great price. Furthermore, almost 75% of this acquisition was done with newly created Class B shares which do not carry any immediate market liquidity."
As for Richard... His ownership is limited as he sold out to Sym as highlighted here:
The deal was financed primarily with common stock, requiring Evermedia to increase its authorized shares to finance the purchase. The companies will consolidate certain aspects of their businesses such as contract management, administrative functions and financial reporting while operations and division management will remain independent. Richard Weitzel will be named the new Chief Executive Officer of STS Evermedia Corporation, the parent of STS, and will also be a director at the Evermedia Group. The "change of command" will take place on or about 1 OCT 2009.
Regarding the acquisition, CEO of Evermedia Jonathan Sym stated: "This increased ownership of STS is a milestone event for us. This is the most significant event in our company's young history as it will allow us to participate in the revenues of a terrific company.
- This proves RW was named CEO of STS Evermedia (SEVM) - Which was bought IN WHOLE by the Evermedia Group (EVRM). RW's shares were converted to shares of EVRM with EVRM's purchase of SEVM.
As far as all your finance questions please consult the fins...
EVRM has quarterly financials to prove revenue. They are legal until proven they are falsified documents: anything else is slanderous and you can take legal action with the SEC if you so chose to do so. Until we have money to continue with full audits we may never know many things - you just have to take their word for it - if you don't like it - file a lawsuit - I have no proof they falsified these statements - nor do I believe you do.
I can't comment on their ability to PR or communicate - being in a court case is a tricky situation and there is a lot of information to go over as this goes on... if you think the $1m is all that's on the line you'd be mistaken - the market value has been pummeled and that would be accounted for in some fashion.
Instead of going on - try explaining yourself or taking the entirety of articles before posting them - and if you disagree please debate it - you seem to post something and never debate the refutations... that's weak.
The defense rests.
It sure would be nice if he could back his statements with some actual thought rather than copy and pasting the same posts he's been copying for years every week.
It gets REALLY old....
How do you figure STS will be gone? STS is wholly owned by EVRM
The court case will decide whether RW had the right to give himself bonuses unapproved by EVRM - and failed to provide records when asked.
Even if RW comes out of the decision with some money for whatever reason, He still has no claim to STS after EVRM bought it out.
STS is a subsidiary to EVRM - your highlights in your post prove to me you still don't understand that point. They are not equal and seperate companies. they are seperate entities yes, but it is an entity controlled 100% by EVRM - everything they do flows through EVRM - which is why Sym is CEO and not RW.
Please do explain all of his court issues..
03/18/2004 DAMAGES
SUMMERS GROUP INC vs ADTECH SYSTEMS INC ET AL
09/09/2004 BREACH OF CONTRACT
TERRAHEALTH INC vs ADTECH SYSTEMS INC ET AL
12/20/2004 WRIT OF GARNISHMENT AFTER JUDGMENT
SUMMERS GROUP INC vs SOUTH TRUST BANK
03/11/2005 PERSONAL INJURY & DAMAGES
MASOUD RASTI vs CAROL A WEITZEL ET AL
04/28/2005 BREACH OF CONTRACT
COMMUNICATION SUPPLY CORPORATION vs ADTECH SYSTEMS INC ETAL
07/20/2005 TATONKA CAPITAL CORPORATION vs ADTECH SYSTEMS INC ET AL
09/14/2005 FOREIGN JUDGMENT
BROADWAY WAREHOUSE LP vs ADTECH SYSTEMS INC ETAL
11/09/2005 TAX WARRANT
SYLVIA S ROMO vs ADTECH SYSTEMS INC
09/11/2006 DELINQUENT TAXES
BEXAR COUNTY ET AL vs EILERT R WEITZEL II ET AL
07/20/2007 DAMAGES
16500 SAN PEDRO LTD vs E RICHARD WEITZEL II ET AL
The guy doesn't have a clean record...
Not to mention RW has been busted for stealing corporate funds before...
The U.S. Department of Labor has sued the owner of defunct Adtech Systems Inc. in San Antonio for improperly using 401(k) assets withheld from employees’ pay to benefit the company in violation of the Employee Retirement Income Security Act.
The department’s lawsuit alleges that from April through November 2005, Eilert Richard Weitzel II, president and owner of Adtech Systems, failed to forward to the company’s 401(k) plan employee contributions deducted from their paychecks. The Labor Department seeks to recover all assets plus interest owed to the plan, correct any prohibited transactions and terminate the plan after all assets are disbursed to eligible participants.
This should make some more sense...
When EVRM bought STS - JS remained CEO of EVRM - RW was CEO of STS - which is wholly owned by EVRM. As such "Operations and Division Management" can be viewed as such:
Division managers are responsible for planning and organizing the duties of employees within the division. They often have lower-level managers reporting to them, along with non-management professionals and hourly workers. They review and evaluate employee performance and plan and monitor worker training programs. They are involved in hiring and firing workers as well as promoting and disciplining them.
Division managers also collaborate with their peers, the heads of other company divisions, to help ensure smooth overall operations within the company. These managers also must consider their own work performances. They are responsible for explaining their decisions and the performances of their divisions to their bosses, usually general managers, vice presidents or other higher-ups within the company.
The financial well-being of the division is the responsibility of the division manager. He or she sets and monitors divisional budgets, tracks expenses and approves spending. If there are sub-divisions within the larger division, the manager allocates budgets to the management of those divisions and monitors adherence to those budgets. If additional money is needed in the division for effective operations, the division manager is responsible for justifying the increased budget request to higher-ups.
Anyone one with their supposed inside information with RW or the company please feel free to share what you know... cause it sure doesn't sound RW had any right in assigning bonuses no matter how you slice it without approval of EVRM. And it sure looks like EVRM should be granted RW's shares in EVRM.
It's quite clear really...
The Board of Directors of EVRM took this action after preliminary 2012 financial statements of its wholly-owned subsidiary, Systems Technology Solutions, Inc. (“STS”), provided to the Board by Mr.Weitzel as President of STS, disclosed bonuses of almost $890,000 that STS paid to its employees during the fourth quarter. This amount represented over 83% of the available cash assets of STS as of December 31, 2012 and the majority of the net income derived from almost $3 million in revenues in 2012. The Company has not yet verified who were the recipients of these bonuses. Patricia Waldroop, an employee of STS, recently stated to a Company Director that the majority of the bonus money went to Richard Weitzel and her. Ms. Waldroop resigned her position with STS on March 26, 2013.“We discovered the fourth quarter bonuses during a review of the STS financial statements.” said Jonathan Sym, CEO and Director of EVRM. . “ I was shocked when I confirmed with STS personnel that the number was, indeed, correct. The Evermedia Board immediately demanded that Mr. Weitzel account to us for these bonuses. After almost a week of trying and failing to get any explanation, we were constrained to relieve Mr. Weitzel of his duties.”
...despite the discovery of unauthorized, and previously undisclosed, expenditures sanctioned by STS’s former President Richard Weitzel.
As part of our demand letter in the current lawsuit, we have requested the return of all shares owned by former Director E. Richard Weitzel. We have not received a response. It is our aim to retrieve all Evermedia Group shares in his possession.
It's clear RW gave out bonuses.
It's clear PW Resigned on her own (admitting wrong doing)
It's clear RW is accountable for Bonuses and is not free to give
out money as he wishes... obviously Evermedia WHOLLY OWNS STS - RW has no authority on financial matters.
Well it's pointless to guess anything. I'm just looking at facts...
I still can't understand how RW in anyway has any right to Take money from a company... The company is owned 100% by the Evermedia Group. RW controls daily activities of STS... financials are consolidated. If he didn't list expenses and embezzled money - I don't understand any argument he has..
If he wasn't in the wrong, why has it been so hard for him to cooperate with court orders... and motions were dismissed at one point.
- The Evermedia Group (PINKSHEETS: EVRM) is pleased to announce its 100% ownership of System Technology Solutions, Inc. (STS). This development follows a September 11, 2009 announcement in which The Evermedia Group had previously acquired an 80% stake in the San Antonio-based company.Whereas, previously, The Evermedia Group held a majority position in STS through STS's parent holding company, The Evermedia Group currently owns 100% of STS directly through an exchange of restricted stock. Pursuant to the agreement, STS President Richard (Dick) Weitzel was appointed co-President of The Evermedia Group while continuing his duties as President of STS. Moving forward, STS will be designated a wholly owned company of The Evermedia Group.
- The companies will consolidate certain aspects of their businesses such as contract management, administrative functions and financial reporting while operations and division management will remain independent.
- The “change of command” will take place on or about 1 OCT 2009.
STS doesn't matter anymore... they are owned by EVRM - they are the SUB
stock was converted to shares of EVRM
JS - 223,597,276 common, 100,000,000 restricted = 323,597,276
RW - 438,597,276
SLS (Shelter Legal Services) - 170,972,089
JS+SLS = 494,569,365
RW = 438,597,276
RW does not own more than 50% of this company... Nor does that matter.
The point of the matter is - there was legal paperwork signed of a partnership (press releases detail that), and the company is a publicly owned company and it's not between just them - this also involves investors... so how does that factor in to the whole mess... just because the guy didn't like results doesn't mean he can walk off with money that was part of a partnership... and as press releases had said - Evermedia is the company in charge - STS is a wholly owned subsidiary of EVRM ... Am I missing something here?
Optimistically:
On the contrary, I have been adding to my position. I don't like how the past 2 years have gone down, but the reasons I bought into this company have not changed (understandably aside from the revenue drop), and the potential has an even higher ceiling due to a top officer being cut from the company - what happens to those shares will make or break this company - I'm good for that gamble - although it sure is a long painful one. In the mean time, it sure would be nice to see rev's ticking back up - sure would do wonders for my mental health.
But, realistically:
The lack of information to the shareholders only makes me believe things will not end well, and I wholly expect to be completely burned, as that is why people should not invest in the OTC market, always seems to be every pink I invest in ends in a lawsuit that does nothing for the investor before it goes bust.
So be it - that's the gamble I made - good luck is the best I can say.
A person doesn't volunteer to be on the board of handful of organizations simply for the fun of it - it's all about money.
An organization doesn't just appoint a person to their board because they've made a donation (although it certainly appears so)
What it all means?? I dunno - no one guess seems any more probable than the other to me - might as well reach for the dramatic
All I know is a large amount of money/shares/ownership is being funneled around for reasons unknown.
The result of this lawsuit will dramatically change this company... something has to happen with roughly 25%(500M)of the company's shares. I just hope it benefits the shareholder... however, life has taught me the little guy never gets a break - which would mean there's more to the story than what we are told and my theory is probably more realistic than anyone would hope.
SLS Financial Statements For 2012-2013
Note 3 – Donated Investments and Facilities
The organization received a donation of 5,000,000 shares of stock valued at $25,000 from a Board member during fiscal year 2011 and another donation of 40,972,089 shares of the same stock, valued at $98,333 from the same Board member during the fiscal year 2013. This stock donation is restricted for the purpose of establishing an endowment fund. As of August 31, 2013, the unrestricted stock was worth $8,000 and the restricted stock was worth $65,555. (AS OF Aug. 2013)...Later... on 12/19/2013 Jonathan Sym donated 125,000,000 shares to Veterans Legal Services from his own stock holdings
in the Company.
So in all SLS owns 170,972,089
**Most often endowments are considered restricted funds.Their principal usually cannot be spent at all, and only a specified percent of the interest they earn can be spent per year. Furthermore, there are restrictions on how the interest can be spent - it may be used only to fund scholarships and professorships, for example.**
"The Evermedia Group, Inc. (Evermedia) announced today its corporate sponsorship of Shelter Legal Services Foundation (SLS). This follows the election of CEO Jonathan Sym to the SLS Board of Directors."
JS generously donated his money to himself ... although in another venture.
"Specifically, Evermedia will provide technology support to the non-profit, supplying the resources needed to serve over 400 clients annually in the Boston area. Matching Evermedia's commitment, Evermedia's accounting firm, M&K CPAS, PLLC, volunteered its services to SLS."
So as I see it - JS was added to SLS to bring in revenue from not only himself - but from other sources (M&K). And I can almost guarantee Being he's a member of the board - he is making some sort of salary - likely based on the financing he provides to them - and of course all the time and work and whatever Board directors make their ridiculous salaries for. All the while making himself look good for donating to a non-profit, creating tax write-offs, and raising his own annual income (probably why he needed a tax break).
Fins on the 20th
Agree not too bad all in all
This companies SP has been running downhill for 2 straight years - prior to richard splitting with the cash - we looked good - increasing revs - no debt... It really doesn't take much of a stretch of the imagination to get back to that point
We have finally gotten point the past of that downhill trend and we will recover from here - even if we only recover 50% - that still puts us over .003 - the company is turning the corner. This is still a business - they will still make revenue. They aren't going under.... we still have cash- most companies have to operate from debt they raise.
Share structure is still going to have to go through a major change
- maybe donating those shares is an attempt to really cut the amount of shares available when the case is settled ... would make sense if Richard's shares get retired
Well we knew Revs for the year would be bad
...at least the equity is up rather than down
What to make of this? It's pretty significant.
on 12/19/2013 Jonathan Sym donated 125,000,000 shares to Veterans Legal Services from his own stock holdings in the Company.